The Iconoclastic Investor

To make better than average money in the stock market you have to do something different from the average investor. You have to be an iconoclast--thinking independently and finding the approaches that work for you, not blindly following someone else's program. In this blog I'm refining my own iconoclastic and eclectic ways of thinking. I'm not trying to convert anyone to my opinions or methods--I just hope to provide a useful perspective and inspire some other investors' thinking.

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Location: Albuquerque, New Mexico, United States

Friday, May 19, 2006

Stopped Out of Shanda Interactive

While I bragged about my great trades Shanda Interactive (SNDA) deteriorated quickly and hit my stop, leaving me with pocket change. MEMC Electronics Materials (WFR) lost most of its gains, leaving me with a paper loss. I put a stop on at $37.24, a little below today's low.

The charts of the popular indices suggest to me profit-takers and short-sellers still have a lot of shares they want to unload, which is keeping a lid on prices. That could change in a minute, but for now I'm assuming this won't be a dramatic rebound day.

Posted at 10:40 a.m. Eastern time.

posted by Houyhnhnm | 7:22 AM

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